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2 Responses to “Teaching Kids About Money”

I just stumbled across my quote in your blog. I absolutely agree that people need to find what is “right” for their family. My daughters are 6 and 8. More important than the nuts and bolts of money are the fundamental concepts and values that it is based on. Kids need to understand that money, like everything else, is a limited resource. Every dollar that is spent on something cannot be spent on anything else. It’s all about choices. I tell my daughters that we can afford almost anything we want but we can’t afford everything we want.

Regarding allowances, they did not work for us. What has worked extremely well with my older daughter is having her earn her own money. She walks dogs and brings in mail for neighbors when they go on vacation. We also joined a web-based coupon service called the Grocery Game. She is responsible for cutting out the coupons and helping me shop. She gets to keep some of the savings. It has been a win-win-win situation because she has learned a lot about money and smart shopping, has earned her own money and I have actually saved money in the process. It’s beautiful.

Our country is over $12 trillion in debt. Our children MUST learn to be smarter with money and credit.

I’ve watched 2 of your videos so far. You give a lot of great and insightful ideas. I really like this one on money. I’m also excited to try your favorite salt dough recipe, as ours didn’t go so well today. Thanks for the things you are doing to teach others. (P.S. You are such a pretty person…sure you hear this a lot, but I thought I’d tell you anyways.)